A bank for financing climate in Africa

Casablanca, February 28, 2019 – The Attijariwafa bank group has obtained the accreditation of the United Nations Green Climate Fund (GCF), as financial intermediary for the implementation of green financing in Africa . Attijariwafa bank thus becomes the only commercial bank in Africa and the MENA region, as well as the 7th largest commercial bank in the world to obtain this accreditation with regional coverage.

Attijariwafa bank was officially accredited at the XXII Green Climate Fund Board Meeting held in Songdo, South Korea, on February 26, 27 and 28, 2019, after extensive due diligence by the GCF to ensure that the Group has the necessary procedures and experience to finance green projects in partnership with the institution.

Partnership between Attijariwafa and the Green Climate Fund to finance the climate in Africa

Accreditation marks an important step in the CSR process and
support for the energy transition for Attijariwafa bank, and
will allow the bank to work in partnership with the Fund to support
its public and private clients in their sustainable development projects on
Africa, through cofinancing or guarantees
high-impact, large-scale investments of up to $ 250 million
by project.

Access to Green Fund financing is therefore a real
leverage to continue the actions of the Attijariwafa bank group
Climate Finance and strengthen its position as a leading pan-African bank in
accompanying the economic and social development of the continent.
United Nations Green Climate Fund, Green Climate Fund
(GCF), is a Global Fund created by the 194 signatories of the Framework Convention
United Nations Climate Change Conference (UNFCCC) in 2010. It aims to
objective of realizing the transfer of funds from the most advanced countries
destination of the most vulnerable countries in order to set up projects
to combat the effects of climate change.

With a global budget of 100 billion dollars a year by 2020, the GCF is the largest fund in the world dedicated to climate action. The total number of accredited entities to date is 75 banks and financial institutions, development institutions and public bodies worldwide.

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1 Comment

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